November 30, 2020

The number of large bitcoin addresses has renewed its all-time high

The number of Bitcoin addresses from 1000 BTC and more has grown to a new maximum in the history of the first cryptocurrency (2231). According to According to Glassnode, the previous record (2209) was set on September 3, 2020.

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Over the past week, the indicator increased by 2.2%, whichcoincided with the Bitcoin price update of the 2020 highs. During this period, the first cryptocurrency gained 13%, showing the largest gain since April. One of the growth drivers was the news about the addition of Bitcoin support by the PayPal payment system.

According to cryptanalyst Willie Wu, many wealthy investors see bitcoin as insurance against inflation.

In September, the CEO of MicroStrategy, the first public company to acquire bitcoin, predicted that many private companies would switch to BTC in the coming months.

In October, Jack Dorsey's payment company Square announced the purchase of $ 50 million worth of bitcoins. The management company Stone Ridge Holdings Group also followed suit.

Formerly founders of Gemini cryptocurrency exchangeThe Winklevoss brothers reaffirmed their previous prediction that bitcoin will rise to $ 500,000. They also believe that bitcoin is the only long-term hedge against inflation.

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